Question: A circle centered at $A$ with a radius of $1$ and a circle centered at $B$ with a radius of $4$ are externally tangent. A third circle is tangent to the first two and to one of their common external tangents as shown. What is the radius of the third circle? [asy]
draw((-3,0)--(7.5,0));
draw(Circle((-1,1),1),linewidth(0.7));
draw(Circle((3,4),4),linewidth(0.7));
draw(Circle((0.33,0.44),0.44),linewidth(0.7));
dot((-1,1));
dot((3,4));
draw((-1,1)--(-2,1));
draw((3,4)--(7,4));
label("$A$",(-1,1),E);
label("$B$",(3,4),W);
label("1",(-1.5,1),N);
label("4",(5,4),N);
[/asy]
Let $C$ be the intersection of the horizontal line through $A$ and the vertical line through $B.$ In right triangle $ABC,$ we have $BC=3$ and $AB=5,$ so $AC=4.$ Let $x$ be the radius of the third circle, and $D$ be the center. Let $E$ and $F$ be the points of intersection of the horizontal line through $D$ with the vertical lines through $B$ and $A,$ respectively, as shown. [asy]
unitsize(0.7cm);
draw((-3,0)--(7.5,0));
draw(Circle((-1,1),1),linewidth(0.7));
draw(Circle((3,4),4),linewidth(0.7));
draw(Circle((0.33,0.44),0.44),linewidth(0.7));
dot((-1,1));
dot((3,4));
draw((-1,1)--(-2,1));
draw((3,4)--(7,4));
label("{\tiny A}",(-1,1),N);
label("{\tiny B}",(3,4),N);
label("{\tiny 1}",(-1.5,1),N);
label("{\tiny 4}",(5,4),N);
draw((3,4)--(-1,1)--(3,1)--cycle);
draw((3,0.44)--(-1,0.44));
draw((-1,1)--(-1,0));
draw((3,1)--(3,0));
draw((-1,1)--(0.33,0.44));
draw((0.33,0.44)--(3,4),dashed);
dot((3,1));
dot((3,0.44));
dot((-1,0.44));
dot((0.33,0.44));
label("{\tiny C}",(3,1),E);
label("{\tiny E}",(3,0.44),E);
label("{\tiny D}",(0.33,0.44),S);
label("{\tiny F}",(-1,0.44),W);
[/asy] In $\triangle BED$ we have $BD = 4+x$ and $BE = 4-x,$ so $$DE^2 = (4+x)^2 - (4-x)^2 = 16x,$$and $DE = 4\sqrt{x}.$ In $\triangle ADF$ we have $AD = 1+x$ and $AF=1-x,$ so $$FD^2 = (1+x)^2 - (1-x)^2 = 4x,$$and $FD = 2\sqrt{x}.$ Hence, $$4=AC=FD+DE=2\sqrt{x}+4\sqrt{x}=6\sqrt{x}$$and $\sqrt{x}=\frac{2}{3},$ which implies $x=\boxed{\frac{4}{9}}.$